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{"id":1270955,"type":0,"block_id":"552736557_1371421974","theme_id":20,"user_id":446704,"path":"Marketing-2030941","title":"Marketing","pubtitle":"Marketing","tags":"","public":true,"publicAccess":true,"private_link_enabled":0,"thumb":"https://s3-eu-west-1.amazonaws.com/infogram-thumbs-200/552736557_1371421974.jpg","width":700,"copyright":null,"properties":{"publishType":0,"transparent":false,"rtl":false,"export_settings":{"showGrid":true,"showValues":true},"whitelabel":false,"embed_button":"enabled","title_link":"infogram","custom_logo":"infogram","custom_link_url":"","embed_button_text":"Share","decimal_separator":".,"},"elements":[{"type":"particle","particle_id":11483977,"object_id":"0537ac4d-e9ed-11e4-a037-7b5f270fdca9","particle_type":"maintitle","picture":null,"text":"Marketing","content_type":"","title":null,"shrink":null},{"type":"particle","particle_id":1605498,"object_id":"552736557_1371421974","particle_type":"quote","picture":null,"text":"By, Brandon","content_type":"","title":"O'Neil-DiPasquale","shrink":null},{"type":"particle","particle_id":1605531,"object_id":"5527365571371422616","particle_type":"maintitle","picture":null,"text":"What is Marketing?","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605536,"object_id":"5527365571371422673","particle_type":"bodytext","picture":null,"text":"Marketing encompasses a range of business activities, including purchasing, selling, distribution, customer service, marketing research, and promotion, as well as advertising.","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605631,"object_id":"5527365571371424464","particle_type":"maintitle","picture":null,"text":"10 marketing Activities","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605639,"object_id":"5527365571371424585","particle_type":"bodytext","picture":null,"text":"They are: Research, Product Development, Packaging, Pricing, Branding, Sales, Distribution, Inventory Management , Storage, and Promotion","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605651,"object_id":"5527365571371424804","particle_type":"bodytext","picture":null,"text":"1.Research: Purpose is to learn about the market; Consumer preferences, habits, lifestyle;competitors. Examples: Surveys, Media research, focus groups","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605659,"object_id":"5527365571371424929","particle_type":"bodytext","picture":null,"text":"2. Product Development: Purpose is to make a product that effectively and profitably meets the need/wants of consumers","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605667,"object_id":"5527365571371425173","particle_type":"bodytext","picture":null,"text":"3. Packaging: Must provide protection for the product while also serving as a promotional tool; Package must be attractive/enticing to the consumer; Must also obey government regulations and environmental standards","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605669,"object_id":"5527365571371425317","particle_type":"bodytext","picture":null,"text":"4. Pricing: Setting the price of a product/service in order to maximize profit for the company; The lowest price is not always the best; Based on: Cost to produce and market the product, what the customer is willing to pay, competitor pricing, brand image","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605688,"object_id":"5527365571371425546","particle_type":"bodytext","picture":null,"text":"5. Branding: Creates an identity in the mind of consumers; Key components: Trademark, Logo, Slogan, Package design, Product Image and associations","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605696,"object_id":"5527365571371425654","particle_type":"bodytext","picture":null,"text":"6. Sales: Convincing potential customers to purchase your product/service; Goal is to increase the size of your market; Acquire new customers while retaining old ones","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605709,"object_id":"5527365571371425870","particle_type":"bodytext","picture":null,"text":"7. Distribution: Moving products to their final destination; From the manufacturing plant, to distribution, to retailers; Must be done efficiently and inexpensively","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605713,"object_id":"5527365571371425998","particle_type":"bodytext","picture":null,"text":"8. Inventory Management: Retailers must make sure they have enough product on hand to meet demand, but not too much;Don't want to have more products than you can sell: Products take up space, Older products become difficult to sell; Must also keep track of inventory so you know when to order more, are aware of thefts, etcs","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605730,"object_id":"5527365571371426276","particle_type":"bodytext","picture":null,"text":"9. Storage: Arranging and maintaining storage for products until they are needed; May be done by a manufacturer, distributor, or retailer","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605734,"object_id":"5527365571371426365","particle_type":"bodytext","picture":null,"text":"10. Promotion: Used to make consumers aware of a company's product/services. Examples: Advertising, Coupons, Samples","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605748,"object_id":"5527365571371426481","particle_type":"maintitle","picture":null,"text":"The 4 Ps and 2 Cs(Microsoft)","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605753,"object_id":"5527365571371426561","particle_type":"bodytext","picture":null,"text":"The 4 Ps are product, price, place, and promotion. The 2 Cs are customer, and completion. ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605774,"object_id":"5527365571371426920","particle_type":"bodytext","picture":null,"text":"Product: describes in detail what services/products/ideas they sell. Microsoft has products like Microsoft windows, Microsoft word, Xbox, Xbox 360, Windows phone, Microsoft excel, and Microsoft paint. They mainly sell computer equipment.","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605789,"object_id":"5527365571371427180","particle_type":"bodytext","picture":null,"text":"Price: describes the price range. Microsoft's price ranges between many things it can range to be very expensive or or very cheap. Microsoft xbox starts at $500.00CDN. Dell Latitude 10 Tablet starts at $649.00CDN.","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605880,"object_id":"5527365571371428793","particle_type":"bodytext","picture":null,"text":"Place: in general, where are they located. Microsoft is located in Wal-Marts,and online stores.","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605903,"object_id":"5527365571371429294","particle_type":"bodytext","picture":null,"text":"Promotion: what forms of advertising do they use? Microsoft mainly using their commercials and advertisments to get most of their consumers.","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605950,"object_id":"5527365571371430039","particle_type":"bodytext","picture":null,"text":"Consumer: describe who their typical customer is. Microsoft typical customer is mainly everyone because now a days everyone mainly uses technology and its one of our main resources.","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605972,"object_id":"5527365571371430335","particle_type":"bodytext","picture":null,"text":"Competition: who is their direct competition? Microsoft's direct competition would be anyone that makes computers and phones. An example would be apple.","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605984,"object_id":"5527365571371430518","particle_type":"maintitle","picture":null,"text":"Marketing Strategies","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605986,"object_id":"5527365571371430544","particle_type":"bodytext","picture":null,"text":"Brand Strategies","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605993,"object_id":"5527365571371430612","particle_type":"bodytext","picture":null,"text":"What is a Brand Strategies?","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1605996,"object_id":"5527365571371430639","particle_type":"bodytext","picture":null,"text":"This is the benefits of a product vs the the costs to find out the product value.\n\nSome benefits could be appearance, pleasure, fitness, and reputation.\n\nSome costs could be Monetary, timing, energy, and blisters.\n\nThe value equation: Benefits - Costs = value of product.\n\n\n","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606007,"object_id":"5527365571371430829","particle_type":"bodytext","picture":null,"text":"\n\nSome benefits could be appearance, pleasure, fitness, and reputation.\n\nSome costs could be Monetary, timing, energy, and blisters.\n\nThe value equation: Benefits - Costs = value of product.\n\n\n","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606005,"object_id":"5527365571371430824","particle_type":"bodytext","picture":null,"text":"Distribution strategy:","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606009,"object_id":"5527365571371430862","particle_type":"bodytext","picture":null,"text":"Pull and Push","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606010,"object_id":"5527365571371430884","particle_type":"bodytext","picture":null,"text":"The pull and push strategy on the customers. Push is the communication between seller and buyer. Companies advertise their products around stores to attract the customers.\n\nA pull strategy is when the consumer requests the product.\n\n\n","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606076,"object_id":"5527365571371431775","particle_type":"maintitle","picture":null,"text":"Consumer","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606085,"object_id":"5527365571371431854","particle_type":"bodytext","picture":null,"text":"Need: is something very essential or very important","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606089,"object_id":"5527365571371431881","particle_type":"bodytext","picture":null,"text":"Want: is a desire to possess or do something;wish for.","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606115,"object_id":"5527365571371432151","particle_type":"bodytext","picture":null,"text":"Example would be Maslow's hierarchy of needs:","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606119,"object_id":"5527365571371432194","particle_type":"bodytext","picture":null,"text":"Physiological needs: Physiological needs are the physical requirements for human survival. Example someone living on the street.\n\nSafety needs: After you get past your physiological needs you have your needs for safety. This can be having a home and a family that cooperates well. Example Personal security, and house security.\n\nLove and belonging: The bond between friends and family. The feeling where you belong in the world and have a reason to be living.\n\nself esteem: How you feel about your self like wearing clothes that make you feel good about yourself and how you look.\n\nSelf-actualization: When you feel you reached your full potential and you are on top of the world having everything not needing anything else.\n\n\n","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606169,"object_id":"5527365571371432805","particle_type":"maintitle","picture":null,"text":"Product Life Cycles","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606171,"object_id":"5527365571371432822","particle_type":"bodytext","picture":null,"text":"#1-Introduction stage","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606175,"object_id":"5527365571371432847","particle_type":"bodytext","picture":null,"text":"-A product launch is the moment when a new product is introduced into the market","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606183,"object_id":"5527365571371432916","particle_type":"bodytext","picture":null,"text":"- Very expensive(set up new machines,pay for design, training,promotion,carry inventory for anticipated demand, etc.","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606194,"object_id":"5527365571371433018","particle_type":"bodytext","picture":null,"text":"- Because of these expenses the initial price of a product is usually high","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606197,"object_id":"5527365571371433065","particle_type":"bodytext","picture":null,"text":"- Consumers who buy now are ''early adopters'' or ''trendsetters''","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606199,"object_id":"5527365571371433126","particle_type":"bodytext","picture":null,"text":"#2-Growth Stage","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606202,"object_id":"5527365571371433145","particle_type":"bodytext","picture":null,"text":"- Product is more visible now in media or daily life (friends,neighbors are using it) ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606215,"object_id":"5527365571371433240","particle_type":"bodytext","picture":null,"text":"- Most crucial stage for advertising so marketers will advertise heavily","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606218,"object_id":"5527365571371433289","particle_type":"bodytext","picture":null,"text":"- Time when product will catch or fail","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606226,"object_id":"5527365571371433395","particle_type":"bodytext","picture":null,"text":"- Product can be scrapped at this stage","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606228,"object_id":"5527365571371433425","particle_type":"bodytext","picture":null,"text":"- If a product is removed before it has recovered the cost of production it is called a ''BUST''","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606237,"object_id":"5527365571371433495","particle_type":"bodytext","picture":null,"text":"- The company that enters the market first will pay the most in costs but it will have the advantage of no competition for a while","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606242,"object_id":"5527365571371433571","particle_type":"bodytext","picture":null,"text":"#3-Maturity Stage ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606247,"object_id":"5527365571371433599","particle_type":"bodytext","picture":null,"text":"- Period during which sales increase more slowly, if at all","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606250,"object_id":"5527365571371433642","particle_type":"bodytext","picture":null,"text":"- Advertising of a mature product will highlight the fact that it has lasted a long time","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606254,"object_id":"5527365571371433700","particle_type":"bodytext","picture":null,"text":"- Recouped major costs and established effective distribution channels","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606259,"object_id":"5527365571371433757","particle_type":"bodytext","picture":null,"text":"- Cost of sales and distribution is low therefore profits are high","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606266,"object_id":"5527365571371433825","particle_type":"bodytext","picture":null,"text":"#4- Decline Stage","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606280,"object_id":"5527365571371433896","particle_type":"bodytext","picture":null,"text":"- Unale to find new customers ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606284,"object_id":"5527365571371433928","particle_type":"bodytext","picture":null,"text":"- Profits decrease - marketers try to determine why","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606289,"object_id":"5527365571371433978","particle_type":"bodytext","picture":null,"text":"- A temporary decline might be reversed by something as simple as a price change or new ad","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606294,"object_id":"5527365571371434031","particle_type":"bodytext","picture":null,"text":"- Some products are revamped or removed from market completely","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606301,"object_id":"5527365571371434100","particle_type":"bodytext","picture":null,"text":"- EG. VCR declined because of the intro of DVD's","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606304,"object_id":"5527365571371434147","particle_type":"bodytext","picture":null,"text":"#5- Decision Stage","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606308,"object_id":"5527365571371434171","particle_type":"bodytext","picture":null,"text":"-The point where marketers make important decisions are product's future","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606312,"object_id":"5527365571371434214","particle_type":"bodytext","picture":null,"text":"- Most often this involves new promotion and new pricing ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606318,"object_id":"5527365571371434249","particle_type":"bodytext","picture":null,"text":"- Eg. Cow Brand Baking Soda.... people stopped buying it because they were baking less (buying more baked goods) so the marketers targeted a new set of customers and promoted it as a way to remove odors from freezers and fridges","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606330,"object_id":"5527365571371434465","particle_type":"maintitle","picture":null,"text":"Consumer Profile","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606357,"object_id":"5527365571371434740","particle_type":"bodytext","picture":null,"text":"Psychographics\nA system of measuring consumers beliefs, opinions, and interests.","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606359,"object_id":"5527365571371434781","particle_type":"bodytext","picture":null,"text":"Geographics\nA system of measuring where consumers live.\n\nRural, urban, suburban areas.","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606361,"object_id":"5527365571371434805","particle_type":"bodytext","picture":null,"text":"Demographics\nthe statistics of a given population. Example using a survey","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606372,"object_id":"5527365571371435009","particle_type":"maintitle","picture":null,"text":"Inventor vs. Inventor","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606379,"object_id":"5527365571371435055","particle_type":"bodytext","picture":null,"text":"Inventor: Risk-taker, forward thinker, goal-setter, focused, determined, committed, and always ask questions","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606382,"object_id":"5527365571371435128","particle_type":"bodytext","picture":null,"text":"Innovator: Challenges the status quo, curious, self-motivated, visionary, entertains the unbelievable, takes risk, self accepting, flexible/adaptive ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606387,"object_id":"5527365571371435276","particle_type":"maintitle","picture":null,"text":"Feasibility Study","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606389,"object_id":"5527365571371435300","particle_type":"bodytext","picture":null,"text":"Need to ask:","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606391,"object_id":"5527365571371435317","particle_type":"bodytext","picture":null,"text":"-Can we Produce it?","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606394,"object_id":"5527365571371435348","particle_type":"bodytext","picture":null,"text":"-Can we Sell it?","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606395,"object_id":"5527365571371435371","particle_type":"bodytext","picture":null,"text":"Determined by Feasibility Study","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606398,"object_id":"5527365571371435400","particle_type":"bodytext","picture":null,"text":"- Study to determine if any business opportunity is possible, practical, and viable","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606404,"object_id":"5527365571371435468","particle_type":"bodytext","picture":null,"text":"Considers:","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606405,"object_id":"5527365571371435482","particle_type":"bodytext","picture":null,"text":"-Price, materials, available technology, promotion, sales, consumer preferences, competitive environment, etc.","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606412,"object_id":"5527365571371435617","particle_type":"maintitle","picture":null,"text":"8 Stages that every product needs to go through in order to ''be brought to market''","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606415,"object_id":"5527365571371435667","particle_type":"bodytext","picture":null,"text":"1. Idea Generation","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606418,"object_id":"5527365571371435691","particle_type":"bodytext","picture":null,"text":"- An invention or innovation as a result of a gap in the current market","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606422,"object_id":"5527365571371435732","particle_type":"bodytext","picture":null,"text":"- An idea to produce a product or service not currently available","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606428,"object_id":"5527365571371435776","particle_type":"bodytext","picture":null,"text":"2. Idea Screening ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606433,"object_id":"5527365571371435798","particle_type":"bodytext","picture":null,"text":"- Not all ideas are good ones (i.e.- New Coke, McPizza, etc.)","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606440,"object_id":"5527365571371435854","particle_type":"bodytext","picture":null,"text":"- Marketers need to test consumer reaction to their idea before they continue","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606438,"object_id":"5527365571371435846","particle_type":"bodytext","picture":null,"text":"- Throw the idea around and see what people think","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606445,"object_id":"5527365571371435924","particle_type":"bodytext","picture":null,"text":"3. Concept Development","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606449,"object_id":"5527365571371435947","particle_type":"bodytext","picture":null,"text":"- If the feedback from consumers and your business associates is positive, a prototype or sample is created ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606452,"object_id":"5527365571371435955","particle_type":"bodytext","picture":null,"text":"- This stage will allow you to see if the product works and to allow your target market to use it/provide feedback for improvements, etc.","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606471,"object_id":"5527365571371436110","particle_type":"bodytext","picture":null,"text":"4. Market Strategy","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606472,"object_id":"5527365571371436120","particle_type":"bodytext","picture":null,"text":"- The development of our your marketing strategy ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606473,"object_id":"5527365571371436123","particle_type":"bodytext","picture":null,"text":"- Determine your target market and how to use the 4 Ps to optimally sell them your product","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606483,"object_id":"5527365571371436251","particle_type":"bodytext","picture":null,"text":"5. Feasibility Analysis/Study","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606485,"object_id":"5527365571371436285","particle_type":"bodytext","picture":null,"text":"- Often done at the same time as the product design and market strategy stages","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606487,"object_id":"5527365571371436291","particle_type":"bodytext","picture":null,"text":"- Many questions are answered in the stage","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606495,"object_id":"5527365571371436372","particle_type":"bodytext","picture":null,"text":"For example:","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606497,"object_id":"5527365571371436390","particle_type":"bodytext","picture":null,"text":"- Materials/labor required?","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606499,"object_id":"5527365571371436400","particle_type":"bodytext","picture":null,"text":"- Price of production?","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606508,"object_id":"5527365571371436466","particle_type":"bodytext","picture":null,"text":"- Distribution channels?","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606511,"object_id":"5527365571371436470","particle_type":"bodytext","picture":null,"text":"- Cost of promotion?","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606514,"object_id":"5527365571371436533","particle_type":"bodytext","picture":null,"text":"- This analysis will simply answer the following question ''Can we make or sell this product and make money doing it''","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606526,"object_id":"5527365571371436645","particle_type":"bodytext","picture":null,"text":"6. Product Design ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606529,"object_id":"5527365571371436667","particle_type":"bodytext","picture":null,"text":"- What the product will look like ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606532,"object_id":"5527365571371436693","particle_type":"bodytext","picture":null,"text":"- The design will depend on what it does and what the target market want","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606537,"object_id":"5527365571371436741","particle_type":"bodytext","picture":null,"text":"7. Test Marketing ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606542,"object_id":"5527365571371436771","particle_type":"bodytext","picture":null,"text":"- Test acceptance of the product ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606543,"object_id":"5527365571371436795","particle_type":"bodytext","picture":null,"text":"- Usually occurs by offering the product to a random sample of your target market ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606544,"object_id":"5527365571371436801","particle_type":"bodytext","picture":null,"text":"- Customer feedback is used to improve the venture and determine whether the product should ''go to market''","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1606562,"object_id":"5527365571371436941","particle_type":"bodytext","picture":null,"text":"8. 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Information","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1613392,"object_id":"5527365571371493357","particle_type":"bodytext","picture":null,"text":"- Law requires labels on food packages ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1613399,"object_id":"5527365571371493370","particle_type":"bodytext","picture":null,"text":"- Ingredients","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1613407,"object_id":"5527365571371493388","particle_type":"bodytext","picture":null,"text":"- Nutritional infromation","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1613409,"object_id":"5527365571371493399","particle_type":"bodytext","picture":null,"text":"- Name & address of manufacturer","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1613412,"object_id":"5527365571371493414","particle_type":"bodytext","picture":null,"text":"- Universal product code (UPC)","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1613418,"object_id":"5527365571371493431","particle_type":"bodytext","picture":null,"text":"- Net quantity of product","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1613423,"object_id":"5527365571371493449","particle_type":"bodytext","picture":null,"text":"- Serving Size","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1613471,"object_id":"5527365571371493680","particle_type":"bodytext","picture":null,"text":"- How to Store product ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1613475,"object_id":"5527365571371493692","particle_type":"bodytext","picture":null,"text":"- Best-before date","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1613477,"object_id":"5527365571371493707","particle_type":"bodytext","picture":null,"text":"- Assembly/cooking instructions","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1613501,"object_id":"5527365571371493783","particle_type":"bodytext","picture":null,"text":"- Health warnings","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1613515,"object_id":"5527365571371493876","particle_type":"bodytext","picture":null,"text":"4. Brand Identification","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1613517,"object_id":"5527365571371493887","particle_type":"bodytext","picture":null,"text":"- Identify the product for the consumer ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1613520,"object_id":"5527365571371493901","particle_type":"bodytext","picture":null,"text":"- Specially designed packages to 'stand out' from competition- Proprietary Design","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615842,"object_id":"5527365571371512011","particle_type":"bodytext","picture":null,"text":"- Colourful and eye-catching","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615843,"object_id":"5527365571371512019","particle_type":"bodytext","picture":null,"text":"- Product name prominent","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615844,"object_id":"5527365571371512024","particle_type":"bodytext","picture":null,"text":"5. Promotion","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615851,"object_id":"5527365571371512090","particle_type":"bodytext","picture":null,"text":"- Another way to promote & advertise brand/event","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615854,"object_id":"5527365571371512096","particle_type":"bodytext","picture":null,"text":"- Take-home cups from theatres with movie advertising on it-souvenir","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615856,"object_id":"5527365571371512103","particle_type":"bodytext","picture":null,"text":"- Limited edition packaging making it a collectible","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615859,"object_id":"5527365571371512111","particle_type":"bodytext","picture":null,"text":"- Environmentally friendly packages","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615860,"object_id":"5527365571371512117","particle_type":"bodytext","picture":null,"text":"6. Effective Packaging ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615862,"object_id":"5527365571371512123","particle_type":"bodytext","picture":null,"text":"- Creative & Unique","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615879,"object_id":"5527365571371512278","particle_type":"bodytext","picture":null,"text":"- Appropriate Colors & Fonts","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615880,"object_id":"5527365571371512286","particle_type":"bodytext","picture":null,"text":"- Easy-to-Read Labels","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615882,"object_id":"5527365571371512293","particle_type":"bodytext","picture":null,"text":"- Use Images","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615883,"object_id":"5527365571371512299","particle_type":"bodytext","picture":null,"text":"- Relevant to Product","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615885,"object_id":"5527365571371512318","particle_type":"bodytext","picture":null,"text":"- Appropriate Language","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615886,"object_id":"5527365571371512324","particle_type":"bodytext","picture":null,"text":"- Include Necessary & Legal Information","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615888,"object_id":"5527365571371512331","particle_type":"bodytext","picture":null,"text":"- Easy to Access Product Inside","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615889,"object_id":"5527365571371512338","particle_type":"bodytext","picture":null,"text":"- Doesn't Look Tampered ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615890,"object_id":"5527365571371512344","particle_type":"bodytext","picture":null,"text":"- Simple","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615914,"object_id":"5527365571371512503","particle_type":"maintitle","picture":null,"text":"Types of Competition","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615922,"object_id":"5527365571371512588","particle_type":"bodytext","picture":null,"text":"1. Perfect Competition","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615925,"object_id":"5527365571371512610","particle_type":"bodytext","picture":null,"text":"- Many businesses","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615927,"object_id":"5527365571371512650","particle_type":"bodytext","picture":null,"text":"- Very similar/identical products ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615931,"object_id":"5527365571371512657","particle_type":"bodytext","picture":null,"text":"- Easy to enter intomarket ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615932,"object_id":"5527365571371512665","particle_type":"bodytext","picture":null,"text":"- Each firm has no control over the price of its product","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615935,"object_id":"5527365571371512674","particle_type":"bodytext","picture":null,"text":"- How do you win? ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615937,"object_id":"5527365571371512685","particle_type":"bodytext","picture":null,"text":"- Maximize efficiency ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615940,"object_id":"5527365571371512692","particle_type":"bodytext","picture":null,"text":"- Produce quantity","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615941,"object_id":"5527365571371512699","particle_type":"bodytext","picture":null,"text":"- Ensure market prices met","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615968,"object_id":"5527365571371512950","particle_type":"bodytext","picture":null,"text":"2. Monopolistic Competition","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615969,"object_id":"5527365571371512960","particle_type":"bodytext","picture":null,"text":"- Many businesses","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615971,"object_id":"5527365571371512966","particle_type":"bodytext","picture":null,"text":"- Differentiated products ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615973,"object_id":"5527365571371512977","particle_type":"bodytext","picture":null,"text":"- Easy to enter into market","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615975,"object_id":"5527365571371512985","particle_type":"bodytext","picture":null,"text":"- Each firm has potential, slight degree of control over the price of its product ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615978,"object_id":"5527365571371512996","particle_type":"bodytext","picture":null,"text":"- How do you win? ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615981,"object_id":"5527365571371513003","particle_type":"bodytext","picture":null,"text":"-Maximize efficiency ","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1615982,"object_id":"5527365571371513010","particle_type":"bodytext","picture":null,"text":"- Use product differentiation","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1616016,"object_id":"5527365571371513245","particle_type":"bodytext","picture":null,"text":"- Small price increases","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1616017,"object_id":"5527365571371513252","particle_type":"bodytext","picture":null,"text":"3. Oligopoly","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1616020,"object_id":"5527365571371513265","particle_type":"bodytext","picture":null,"text":"- Few businesses","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1616022,"object_id":"5527365571371513275","particle_type":"bodytext","picture":null,"text":"- Difficult to enter market","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1616024,"object_id":"5527365571371513282","particle_type":"bodytext","picture":null,"text":"- Considerable control of price can occur (collusion)","content_type":"","title":"","shrink":null},{"type":"particle","particle_id":1616026,"object_id":"5527365571371513291","particle_type":"bodytext","picture":null,"text":"- How do you win? 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